← ILLINOIS BIOTECHNOLOGY INNOVATION ORGANIZATION

Form 990 for tax year 2022

Filed by ILLINOIS BIOTECHNOLOGY INNOVATION ORGANIZATION.

Totals

Total revenue: $742,849
Total expenses: $612,673
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $646,616
Investment income: $0
Other revenue: $96,233
Total assets, end of year: $540,353
Total liabilities, end of year: $391,515
Net assets or fund balances, end of year: $148,838
Program services expenses (Part IX): not reported
Management and general expenses: not reported
Fundraising expenses: not reported
Program service expenses (Part III): not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

2a · Program service revenue: MEMBERSHIP DUES

total $253,349 · related or exempt $253,349
2b · Program service revenue: LEGISLATIVE

total $205,000 · related or exempt $205,000
2c · Program service revenue: MEETINGS AND EDUCATION

total $124,767 · related or exempt $124,767
2d · Program service revenue: PROJECT SERVICE FEES

total $63,500 · related or exempt $63,500
6a · Gross rents

real property $7,023
6b · Less rental expenses

real property $37,910
6c · Rental income or loss

real property -$30,887
6d · Net rental income or loss

total -$30,887 · excluded -$30,887
11a · Other revenue: PURCHASING PROGRAM

total $118,099 · excluded $118,099
11b · Other revenue: MISCELLANEOUS

total $9,021 · excluded $9,021
11e · Other revenue, total

$127,120

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $315,397
8 · Pension plan contributions

total $9,462
9 · Other employee benefits

total $8,605
10 · Payroll taxes

total $20,020
11b · Fees: legal

total $2,238
11c · Fees: accounting

total $21,653
11d · Fees: lobbying

total $45,000
11g · Fees: other

total $107,408
13 · Office expenses

total $27,452
17 · Travel

total $16,656
19 · Conferences, conventions and meetings

total $32,791
23 · Insurance

total $2,853
24a · Other expenses: BOARD EXPENSES

total $2,939
24b · Other expenses: MEMBERSHIP SERVICES

total $199

Balance sheet

Part X, book values.

2 · Savings and temporary cash investments

beginning of year $146,958 · end of year $182,673
4 · Accounts receivable

beginning of year $282,426 · end of year $354,380
9 · Prepaid expenses and deferred charges

beginning of year $293 · end of year $300
10a · Land, buildings and equipment: cost or other basis

$0
10c · Land, buildings and equipment, net

beginning of year $0
15 · Other assets

beginning of year $4,418 · end of year $3,000
17 · Accounts payable and accrued expenses

beginning of year $36,462 · end of year $48,807
19 · Deferred revenue

beginning of year $16,600 · end of year $8,200
25 · Other liabilities

beginning of year $383,518 · end of year $334,508
27 · Net assets without donor restrictions

beginning of year -$2,485 · end of year $148,838

Mission and programs · 2022

Mission

TO MAKE ILLINOIS AND THE SURROUNDING MIDWEST ONE OF THE WORLD'S TOP LIFE SCIENCES CENTERS, A GREAT PLACE TO DO BUSINESS, AND A GREAT PLACE TO GROW NEW TECHNOLOGY VENTURES. IBIO PROMOTES SOUND POLICY AT THE LOCAL, STATE, AND FEDERAL LEVELS; IMPROVES ITS REGION'S ABILITY TO CREATE, ATTRACT, AND RETAIN BUSINESSES; ORCHESTRATES INDUSTRY INVOLVEMENT TO HELP SOLVE AMERICA'S MATH AND SCIENCE EDUCATION CRISIS; AND CONTRIBUTES TO THE WELL-BEING OF PEOPLE WORLDWIDE BY CREATING NEW JOBS, WEALTH, AND PROSPERITY.

Activities or mission (Part I)

TO MAKE ILLINOIS AND SURROUNDING MIDWEST ONE OF THE WORLD'S TOP LIFE SCIENCE CENTERS.

ADVOCACY - PROMOTES SOUND POLICY DEVELOPMENT AT THE LOCAL, STATE, AND FEDERAL LEVELS AND ANNUALLY HONORS ELECTED AND APPOINTED GOVERNMENT OFFICIALS WHO HAVE MADE VALUABLE CONTRIBUTIONS TO BIOTECHNOLOGY.
MEMBERSHIP - BUILDS COMMUNITY BY PROVIDING OPPORTUNITIES TO CONNECT AND ENGAGE WITH THE BIOTECHNOLOGY INDUSTRY.
EDUCATION - HOSTS A VARIETY OF EVENTS, INCLUDING SEMINARS, COURSES, AND ROUNDTABLES, THAT FOCUS ON EDUCATION, NETWORKING, INDUSTRY DEVELOPMENTS, AND BEST PRACTICES IN BIOTECHNOLOGY.
PUBLICATIONS - PROVIDES BIOTECHNOLOGY NEWS AND UPDATES ON ITS WEBSITE AND PUBLISHES EDITORIALS, INFORMATION ON INDUSTRY DEVELOPMENTS, BEST PRACTICE ARTICLES, AND STORIES OF SUCCESS IN BIOTECHNOLGY THROUGH ITS BIOLOGICAL QUARTERLY MAGAZINE.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Steven DucommunSTEVEN DUCOMMUN

CORPORATE SECRETARY

Total calculated

$0

Hours/week

0.5 + 0.5 related
Blair KomasinskiBLAIR KOMASINSKI

TREASURER

Total calculated

$0

Hours/week

0.5 + 0.5 related
Mayebeth HadfieldMAYEBETH HADFIELD

MEMBER AT LARGE

Total calculated

$0

Hours/week

0.5 + 0.5 related
Gretchen JohnsonGRETCHEN JOHNSON

PAST MEMBER AT LARGE

Total calculated

$0

Hours/week

0.5 + 0.5 related
Norbert Riedel PhDNORBERT RIEDEL PHD

MEMBER AT LARGE

Total calculated

$0

Hours/week

0.5 + 0.5 related
James WhiteJAMES WHITE

MEMBER AT LARGE

Total calculated

$0

Hours/week

0.5 + 0.5 related
John BatheryJOHN BATHERY

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Jeff BergauJEFF BERGAU

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Drue DuncanDRUE DUNCAN

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Michael FlavinMICHAEL FLAVIN

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
David FlowersDAVID FLOWERS

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Patrick GattariPATRICK GATTARI

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Ashish KhannaASHISH KHANNA

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Dan LyneDAN LYNE

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Nancy SullivanNANCY SULLIVAN

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Charlie ToblerCHARLIE TOBLER

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Tres JohnsonTRES JOHNSON

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Steve SabusSTEVE SABUS

PAST DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Harry RowlandHARRY ROWLAND

DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Rahul JerathRAHUL JERATH

NEW DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Kenneth JohnsonKENNETH JOHNSON

NEW DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Eric MessnerERIC MESSNER

NEW DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Jim SullivanJIM SULLIVAN

NEW DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Phil TennantPHIL TENNANT

NEW DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
Joe WhalenJOE WHALEN

NEW DIRECTOR

Total calculated

$0

Hours/week

0.5 + 0.5 related
John LarsonJOHN LARSON

PAST CHAIRMAN

Total calculated

$0

Hours/week

0.5 + 0.5 related
Marilyn VetterMARILYN VETTER

CHAIRMAN

Total calculated

$0

Hours/week

0.5 + 0.5 related
John ConradJOHN CONRAD

PRESIDENT & CEO

Total calculated

$0

Hours/week

20 + 20 related
Ann VogelANN VOGEL

SENIOR VP, EDUCATE

Total calculated

$0

Hours/week

40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 13 November 2023
IRS schema version: 2022v5.0
Source object: 202333179349308118

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